"Mr. Su, hello." The first time Isaac saw Mr. Su, a look of surprise clearly appeared on his face.
After the 'Brexit referendum' event, where Huayi Capital, in conjunction with Huayin International and Aberdeen Asset Management, two major institutions, aggressively shorted the British pound exchange rate and made billions of dollars, well-known forex investment institutions and market-making institutions worldwide have already gained an understanding of Huayi Capital, this investment company, and its owner.
In fact, Isaac had repeatedly reviewed the information about Su Yi collected by the company.
But before actually meeting Su Yi, he still found it hard to believe that the person in charge of Huayi Capital, a company worth billions of dollars, could be so young.
Looking globally, Su Yi could easily be ranked among the youngest self-made billionaires in the world.
"Mr. Isaac, hello." Su Yi smiled, extended his hand to shake his, and said, "Last time, our company had a very pleasant cooperation with your FXCM International, and I hope this time... we can also have a very pleasant discussion about this cooperation."
Isaac smiled and said, "As long as Mr. Su comes with ample sincerity, then our discussions and cooperation will naturally be quite pleasant."
Since the Market Operations Department had previously been in contact with Huayi Capital.
Therefore, this time's equity financing, or rather, the acquisition reception, was naturally presided over by him, the President of Market Operations.
"Mr. Su, the hotel and dinner are all prepared." Isaac paused, then added, "Would you like to return to the hotel to rest first, or..."
Su Yi thought for a moment and said, "Mr. Stewart must also be eager to meet our team, so... let's not go back to the hotel first, let's go directly."
After speaking, Su Yi had the accompanying secretary and logistics staff take the team's luggage back to the hotel first.
As for himself, Wang Huaijin, and several core senior executives who came with the company this time, they followed the motorcade arranged by Isaac and went directly from the airport to the restaurant arranged by the other party.
When they arrived at the restaurant and entered the private room arranged by the other party.
All the shareholders of FXCM International, as well as the group's core senior executives, instantly came into Su Yi's view.
Su Yi glanced at everyone.
Immediately, under Isaac's introduction, he shook hands with Mr. Stewart, the Chairman of FXCM International, and exchanged some pleasantries.
Afterwards, both parties continuously probed each other during the meal.
Accompanied by the shareholders of FXCM International, Su Yi mentioned some minor conditions and also stated that if the cooperation was pleasant and the acquisition successful, he would respect FXCM International's current internal organizational structure and personnel arrangements, and would not interfere excessively with its business operations.
Of course, in addition to the numerous secondary conditions discussed for cooperation.
Regarding some more core issues.
Such as the valuation price of the acquisition, the acquisition method... and other key issues, Su Yi temporarily chose to avoid discussing them.
The shareholders of FXCM International also knew that this was just an initial exploratory meeting, and naturally did not pay too much attention to the core issues that Su Yi avoided discussing.
Everyone ultimately just got to know each other and gained a preliminary understanding.
After finishing dinner and returning to the hotel.
Su Yi's eyes, which had been somewhat hazy amidst the clinking of glasses, instantly cleared up again.
"Mr. Wang, let's assess this. After tonight's initial meeting, how do you think we can gain the initiative in tomorrow's discussion?" Su Yi asked Wang Huaijin, "Also, what should be the first offer price?"
Wang Huaijin thought for a moment and replied, "It's clear that several core shareholders of FXCM International have been quite positive about our intended acquisition. This indicates that they have no objections to selling the company, as long as the price is right.
Also, judging from their attitude towards our reception. I believe that some of the acquisition conditions we have currently disclosed are still easily acceptable to them. It's just about the acquisition price..."
Wang Huaijin paused and said, "On the way here, I had the team estimate based on FXCM International's operating data and conditions over the past two years, using industry average valuations. It feels a bit difficult to acquire all of its shares for $1.5 billion.
Compared to its direct competitor, FXCM International. GAIN Capital's valuation is already in the $4 billion to $5 billion range. Even if FXCM International suffered huge losses in this 'pound sterling black swan' event and has to repay over $1 billion in debt within a short period, its overall valuation is still far higher than $1.5 billion."
"Don't look at market valuations," Su Yi said. "Can we find out the valuation prices offered by other buyers who have contacted FXCM International?"
"It's difficult," Wang Huaijin said. "Even if we could find out, it would probably take time."
"What range do you estimate the other bidders' offers will be in?" Su Yi asked.
Wang Huaijin thought for a moment and said, "It shouldn't be lower than $1.5 billion. After all, although FXCM International's internal cash flow currently faces the risk of breaking, its core assets and market reputation accumulated over more than two decades are still very good.
Especially as a market-making institution, it has a considerable market share among clients in the forex trading market. As long as it overcomes this difficulty and learns from it, this institution can easily resume normal operations and continue to lead similar companies in the industry."
"If we can't find out the preliminary acquisition prices offered by the other parties," Su Yi said, "then it will be difficult for us to seize the initiative!"
"It would definitely be difficult to directly find out the acquisition prices from other competitors," Wang Huaijin said. "However, I feel we could try starting with Isaac. As the person in charge of FXCM International Group's contact with external financing institutions, he must know the bids from all parties."
"But how can we convince him to help us?" Su Yi frowned.
Wang Huaijin smiled and said, "I have carefully studied Isaac's profile. Although he is one of the shareholders of FXCM International, he doesn't hold many shares, less than 5%. He has been in the position of President of Market Operations for five years. Although he successfully joined the group's board of directors in the past year, the position of Group Vice President has never been finalized.
We can promise that after a successful acquisition, we will promote him to Vice President and give him sufficient salary and corresponding internal power within the group. From what I understand, this person's business capabilities are very strong. Given that we have the capability to acquire FXCM International.
I believe that if we extend an olive branch, the other party will definitely consider it. At least in a comprehensive comparison... apart from the current unknown factor regarding the preliminary acquisition price, the other terms offered by our institution should be the most favorable."
"Okay, that works." Su Yi nodded slightly, "You can try contacting him."
Wang Huaijin nodded, then called Isaac.
The two first exchanged pleasantries, and then, when Wang Huaijin learned that Isaac was alone at the moment, he smiled and proposed the conditions, also inquiring about the bids from the other prospective acquirers.
After Isaac saw the scale of the negotiation, with Su Yi personally leading the team.
He already knew the determination of Huayi Capital to acquire his group.
Now, he heard Wang Huaijin's probing words.
He considered his future prospects, as well as the changes in his status within the group after Huayi Capital's full acquisition of FXCM International in the future, and other factors.
He thought that there seemed to be no reason for him not to favor Huayi Capital.
So, after he proposed conditions, hoping that he could remain on the group's board of directors after Huayi Capital's successful acquisition, and received assurances from Wang Huaijin, and especially Su Yi, he directly revealed the acquisition prices offered by the other investors who had expressed acquisition interest.
(End of Chapter)